Optimization of Bank Check Sorting and Clearing Operation
Apte, Uday M.
MetadataShow full item record
In this paper we examine the check sorting and clearing operation and develop a mathematical model for arriving at optimal decisions on check sorting patterns and clearing routes. Previous research in this area has focused on either the sorting operation or the clearing operation, and hence the main contribution of our research is to develop and solve optimization model that simultaneously represents both these operations. The proposed model was tested using real-life operational data obtained from a Philadelphia-based bank. After optimally solving the model, we recommend possible ways of finding more robust sorting and clearing decisions, and compare the robust decisions to the optimal solution. It should be noted that the sorting and clearing operation is not limited to banking industry alone, but that it is also a backbone of the U.S. Postal Service operation. The output of the proposed research can therefore have wider applicability and implications.
The article of record as published may be located at http://dx.doi.org/10.1007/s13727-012-0002-1
Showing items related by title, author, creator and subject.
Malveo, April E. (Monterey, California. Naval Postgraduate School, 2013-03);This thesis introduces an integer linear program called the Minimum Cost Flow with Congestion Assignment (MCF-CA) model. MCF-CA is a multi-period evacuation model that uses a novel approach called congestion assignment to ...
Weber, Timothy R. (Monterey, California. Naval Postgraduate School, 1995-12);Lemmings are autonomous tracked underwater vehicles which utilize a swarming approach to mine detection and neutralization in the very shallow water, surf and beach zones (VSW/SZ/BZ). The Navy and the Marine Corps are in ...
An approach to using Total Life Cycle Cost and Total Quality Management in project management in the Indonesian Navy Iskandar, Indarto. (Monterey, California. Naval Postgraduate School, 1996-09);Project management is very important to many industrial and governmental organizations. For governmental organizations, projects are vehicles for growth and improvement. In the Indonesian Navy for example, project management ...